Peter Schiff predicts bitcoin will fall to $ 75,000

Famous bitcoin critic BTC $75,184.84 Mezo Wrapped BTC -0.87% Market capitalization $0.1 billion VOL. 24 hours $0.63 billion economist Peter Schiff has warned that the price of BTC could fall to at least $ 75,000. In his opinion, investors should «sell now and buy later» rather than «sit and watch the market fall.»

Currently, the flagship of the crypto market is trading at around $ 110,200 after dropping more than 13% over the past two weeks from a peak above $ 124,000. Schiff emphasized that the weakness of BTC amid «hype and corporate purchases» is a worrying signal.

His forecast also indicates that the price may fall below the average cost of token purchases by Strategy (formerly MicroStrategy). This week alone, Сейлор" href="https:>Michael Saylor 's company bought 3,081 BTC for $ 356.9 million at an average price of $ 115,829. In total, Strategy holds 632,457 BTC worth about $ 69.6 billion.

Although the fall continues, analysts note that the $ 75,000 scenario seems far off. The recent collapse was caused by a massive sale of 24,000 BTC by a single whale, which triggered a chain of liquidations. At the same time, institutional demand continues: Metaplanet bought another 103 BTC, and US bitcoin ETFs recorded an inflow of $ 231 million on August 14 alone.

The future dynamics of bitcoin will depend on whether institutional investments and ETF inflows can outweigh the sell-off of major players, as well as on macroeconomic factors and market liquidity.